MARKET REVIEW After a long weekend, the index started off on a bearish note shedding 1.4% in the first two days. However, the feel good factor returned in the final two trading sessions where the market gained 2.6% to close at 49,851 points level and returned 1.1%WoW on the closing basis. Foreigners remained net sellers during the week with a net FIPI outflow of USD19.2mn. The foreign selling was largely absorbed by local individuals who reported a total buy of USD27.8mn. Trading activity however remained lackluster with average volume traded decreasing by 26.4%WoW while average value traded also decreased by…
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KSE-100 INDEX GAINS OVER 550 POINTS AS MSCI EXCITEMENT LOOMS ROUND THE CORNER SUMMARY This week the market trading sessions were reduced by one day on account of May 1 being the Labor Day. The week was dominated by political happenings in and out of the court, which had impact on the trading activity at PSX, particularly in the first two sessions of the week when the KSE-100 Index dipped down 695 points. Supreme Court names special Panamagate bench, Court summons SBP SECP chiefs with list of official, finalization by SC JIT, Imran Khan’s disqualification case and the controversy sparked…
PAKISTAN: ZONG ENTERS INTO STRATEGIC PARTNERSHIP WITH UBL: Zong has entered into a strategic partnership with United Bank Limited. The two companies signed an MoU for Mobile Broadband (MBB) under which UBL credit card customers and UBL employees will get MBB devices with upfront purchase of 12 months MBB bundles. This offer will be available for Zong Bolt, Bolt+ and Bolt Ultra devices. MS REHMAN MET ALIBABA IN GENEVA: Minister of State for Information Technology and Telecommunication Anusha Rahman discussed developments in Pakistan’s information and communication technology sector (ICT) with Chairman and Founder of Alibaba Group Jack Ma. NOKIA CORPORATION…
UAE’S NEW PROJECTS After weathering the turbulence caused by low oil prices, the UAE has managed a soft landing with non-oil real gross domestic product growth bottoming out as the fiscal drag eased and infrastructure activity picked up, analysts at Bank of America Merrill Lynch said. “We expect overall UAE real GDP growth of 0.9 per cent in 2017, from 2.2 per cent likely in 2016. The headline figure masks a likely contraction in the oil sector due to the Opec deal, but we see non-hydrocarbon real GDP growth picking up to 2.7 per cent in 2017 from 2.3 per…
RUPEE STABLE AGAINST DOLLAR: KAMAL The rupee remained stable against the dollar at 104.4/104.6 in the inter-bank market on Friday as compared to Thursday’s close of 104.4/104.6, Kamal Hayder, Research Analyst-PAGE said. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened from around Rs98 to a dollar to above Rs103 in the wake of political impasse over alleged election rigging. Recently, the central bank has imposed 100% cash margin on the import of certain consumer…
LPG PRODUCTION New Delhi: The government is eyeing close to Rs 30,000-crore investment for expansion of LPG production and distribution network in next three years as it widens cooking gas coverage by giving out a record number of connections. A record 3.45 crore LPG connections were given during the fiscal ended March 31, 2017, including 2.2 crore free connections to poor women, Oil Minister Dharmendra Pradhan told reporters here. As many as 6 crore connections have been given in last three years, taking LPG to 72.84 per cent of the population. The LPG coverage was just over 50 per cent…
TPL TO DIGITIZE MAPS IN KHYBER PAKHTUNKHWA Khyber Pakhtunkhwa (KP) government announced TPL Maps as the mapping partner to introduce street mapping and Street Vision across the province. For KP government a memorandum of understanding (MoU) recently signed by Tech Valley Abbottabad and TPL Maps. Under the agreement, TPL Maps will be the maps digitization partner for the KP government. The partnership intends to cover various prospects from providing a range of mapping solution across the cities of the province to creating employment opportunities for students which will play a pivotal role to curb the upsurge in unemployment rate. The…
The following essay is reprinted with permission from The Conversation, an online publication covering the latest research (April 27, 2017 2.06pm BST) [dropcap]T[/dropcap]he hundredth day of an American president’s term traditionally marks the end of the honeymoon period – a time to take stock of early achievements, launch new legislation, and set a new direction. But the scorecard for Donald Trump’s first 100 days doesn’t read well, and the direction for the next four years is looking so new as to radically contradict the premise of his campaign. Trump hasn’t commenced the wall along the US-Mexican border, his signature campaign…
The following article is reprinted with permission from The Conversation, an online publication covering the latest research. (April 27, 2017 1.45pm BST) [dropcap]M[/dropcap]any brands, particularly those from countries associated with poor production quality, attempt to disguise their origins. Some even attempt to deliberately associate their brand with a country that has a strong image to win over customers. Chinese consumer goods company, the Haier Group, for example, adopted the German-sounding name and dropped Qingdao from its original moniker in the early 1990s to inspire confidence. With Haier, the name change was accompanied by a turnaround in the company’s quality control…
PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 24-Mar Friday 31-Mar Friday 7-Apr Friday 14-Apr Friday 21-Apr Friday 28-Apr DOLLAR Buying 106.6 106.45 106.2 106.15 106.1 106 Selling 106.9 106.75 106.5 106.45 106.4 106.3 POUND Buying 132 131.25 131.5 132 135 135.75 Selling 133.75 133 133.25 133.75 136.75 137.5 EURO Buying 114.5 114 112.5 112 112.75 114.5 Selling 115.7 115.2 113.7 113.2 113.45 115.7 CANADIAN $ Buying 79.5 79.25 78.75 79 78.25 78 Selling 80.35 80.1 79.6 79.85 79.1 78.85 JAP YEN Buying 0.9 0.93 0.93 0.94 0.94 0.93 Selling 0.93 0.96 0.96 0.97 0.97 0.96 HK $ Buying 13.4…
GBP/USD WEEKLY OVERVIEW On Monday Pound hit down around 0.2% against the Dollar at $ 1.2790. It is expected that positive economic data would be an important driver for Sterling. In fact Sterling out performed the Dollar and climbed 0.3% to $ 1.2886 after declaration of polls in UK, in June by Prime Minister Theresa May and her expected Landslide victory there in. According to reports over the past twelve years Sterling has risen by an average of 2.3 %. TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD) TIME S3 S2 S1 MAGNET POINT R1 R2 R3 WEEKLY 1.2516 1.2700 1.2814…
MARKET REVIEW The index lost its momentum in the current week as results announced by companies failed to excite investors. Furthermore, political uncertainty still steaming in the background kept investors at bay. This led the market down 0.8%WoW to close at 49,300 points level. Foreigners remained net sellers in the week with a net FIPI outflow of USD10.7mn. However, trading activity picked up in the week with ADT and ADTV witnessing an increase of 29.1%WoW and 7.4%WoW, with a shift towards small cap scrips. During the week, Pakistan Bureau of Statistics (PBS) released textile export data for the month of…
KSE-100 INDEX STAYS JERKY UNDER CORPORATE RESULTS AND POLITICAL UNCERTAINTY SUMMARY The first week after Panama case verdict saw the KSE-100 Index seeking direction in the market as it gained in two sessions Monday and Wednesday while Index dipped negative on Tuesday, Thursday and Friday . The result is the cumulative mix of political factors and the quarterly announcement of results by corporate sector. Interestingly in last week of January index touched highest point of 50,192 and just two days before the verdict on Panama case, Index touched lowest 46,874 points . This highlights the importance of political factor. The…
PAKISTAN: PTA INVITED APPLICATION FROM INTERESTED IN ESTABLISHING AN ELECTRONIC PLATTFORM: Pakistan Telecommunication Authority ( PTA ) has invited application from participants interested in establishing an electronic platform that would enable mobile bank account holders to conduct financial transactions across the country. MOIT HAS PREPARED A SPECIAL PACKAGE FOR IT SECTOR COVERING ENHANCEMENT IN EXISTING INCENTIVES, RATIONALIZATION OD DUTIES/ TAXES: Ministry of Information Technology and Telecom ( MoIT) has prepared a special package for IT sector covering enhancement in existing incentives, rationalization of duties/taxes and simplification of tax regime envisaging to promote local assembly/manufacturing of IT hardware and double software…
DUBAI WEEK IN CHINA Dubai: The annual “Dubai week in China” will take place this year in Shenzhen, considered one of China’s the most innovative cities with the one of fastest-growing economies. “Dubai week in China” has previously been held in Beijing and Shanghai. This year’s theme will be “innovation”, said Hongbin Cong, Vice-Chairman of International Relations at Falcon and Associates – a strategic advisory company that initiated the Dubai Week in China series, which aims to further boost the economic relations between Dubai and China. Commenting on this year’s choice, Cong told Gulf News that Shenzhen was chosen for…
PETROL, DIESEL RATES LIKELY TO BE CUT BY RS1/LITRE Consumers of petrol and diesel are likely to get relief as the government is likely to cut petroleum products prices in May after it kept increasing their prices during the last several months following fluctuations in global oil prices, source said to Research Analyst-PAGE. However, the government is expected to increase the prices of light diesel and kerosene. The Oil and Gas Regulatory Authority (Ogra) has sent its recommendations regarding petroleum prices to the Ministry of Petroleum on Friday. According to Ogra’s calculation, the prices of petrol and high speed diesel…
BAD CORPORATE DEBT New Delhi: The recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon’s unpaid debts are just the tip of an iceberg that is already holding back the country’s economic growth. The multimillionaire owner of a Formula One team and founder of the Kingfisher beer brand was arrested on Tuesday in Britain, where he fled a year ago after allegedly defaulting on loans from Indian state banks worth more than $1 billion. From the mid-2000s onwards, Mallya and much of corporate India went on a shopping spree, picking up…
STANDARD CHARTERED BANK (PAKISTAN) LIMITED ANNOUNCES Q1 2017 RESULTS The Bank reported a Profit before tax of PKR 4.1 billion compared to PKR 4.9 billion for the same period last year. Revenue was lower by PKR 942 million primarily due to reduced margins. The impact of margin compression on revenue was partially offset by a stable non-funded income and decreasing cost of funds. Administrative costs continue to be well managed through operational efficiencies and disciplined spending, leading to a 1per cent decrease from Q1 2016. Further, strong recoveries of bad debts, coupled with lower impairments led to a net release…
The following essay is reprinted with permission from The Conversation, an online publication covering the latest research [dropcap]A[/dropcap]s soon as Theresa May announced an early general election, just weeks after triggering Article 50, the vote was being dubbed the “Brexit election”. May is likely to campaign on a strategy of “vote Conservative for my vision of Brexit”. While there are divisions in the Conservative party about what Brexit means, there are greater divisions about what it means within the Labour party. The opposition begins the campaign on the back foot. But what does this election mean for the actual Brexit…
PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 17-Mar Friday 24-Mar Friday 31-Mar Friday 7-Apr Friday 14-Apr Friday 21-Apr DOLLAR Buying 106.55 106.6 106.45 106.2 106.15 106.1 Selling 106.85 106.9 106.75 106.5 106.45 106.4 POUND Buying 131 132 131.25 131.5 132 135 Selling 132.75 133.75 133 133.25 133.75 136.75 EURO Buying 114.25 114.5 114 112.5 112 112.75 Selling 115.45 115.7 115.2 113.7 113.2 113.45 CANADIAN $ Buying 80 79.5 79.25 78.75 79 78.25 Selling 80.85 80.35 80.1 79.6 79.85 79.1 JAP YEN Buying 0.9 0.9 0.93 0.93 0.94 0.94 Selling 0.93 0.93 0.96 0.96 0.97 0.97 HK $ Buying 13.4…
GBP/USD WEEKLY OVERVIEW Pound dipped a cent below six and a half month high against dollar on Wednesday. Pound/dollar volatility rose in the pretext of declaration of new election up to June 2017 by British Prime Minister Theresa May. It is hoped that Pound is likely to continue to $ 1.30 this week. It is estimated that GBP is about 11% below its long term fair value on real exchange rate basis. GBP/USD was down to 0.47% at $1.2780 on Thursday whereas GBP slid to five month troughs of 136.05 Yen. TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD) TIME S3…
MARKET REVIEW Panama Leaks decision dictated the market sentiment during the week. The index started off on a weaker note but gained momentum during the latter half of the week, posting the highest ever intra-day level of 49,505pts following the Panama verdict which was taken positively by the investors. The index closed the week at 49,709pts, up 4.5%WoW. FIPI registered net outflow of USD32mn. Average volume traded increased by 62.5%WoW while average value traded increased by 81.3%WoW. During the week, Amreli Steel Ltd. announced expansion in its Billets and Rebar capacity while Punjab Govt. unveiled its plan to launch the…
PANAMA GATE VERDICT EXTENDS KSE-100 INDEX GAINS TO 2,132 POINTS SUMMARY Finally long awaited Panama gate verdict unfolded on Thursday. This gave a boost to the PSX and the KSE-100 Index, which was trading at 47,577 points last Friday jumped to 49,708.65 points on Friday close, an increase of 4.48% WoW. The KSE-100 Index during April, for the last two weeks shed 267 and 374 points till April 14. The market had been bearish since the beginning of 2017. The start of the present week was also in negative. But a day earlier before the verdict on Wednesday the positive…
PAKISTAN: PTA INVITED APPLICATION FROM INTERESTED IN ESTABLISHING AN ELECTRONIC PLATTFORM: Pakistan Telecommunication Authority ( PTA ) has invited application from participants interested in establishing an electronic platform that would enable mobile bank account holders to conduct financial transactions across the country. MOIT HAS PREPARED A SPECIAL PACKAGE FOR IT SECTOR COVERING ENHANCEMENT IN EXISTING INCENTIVES, RATIONALIZATION OD DUTIES/ TAXES: Ministry of Information Technology and Telecom ( MoIT) has prepared a special package for IT sector covering enhancement in existing incentives, rationalization of duties/taxes and simplification of tax regime envisaging to promote local assembly/manufacturing of IT hardware and double software…
RISING OIL PRICES Dubai: World oil market is expected to see a partial recovery in 2017 and 2018 in light of the Opec and non-Opec output cuts of 1.8 million barrels per day, Arab Monetary Fund (AMF) said in its Arab Economic Outlook. While the production cuts will help bring an oil market balance in 2017, oil demand is expected to increase by 1.2 million barrel per day this year, the AEO report said. “These developments will support oil price increases in 2017 and 2018, compared to levels recorded in 2016 which reached $40.8 per barrel for the Opec price…
RUPEE GAINS AGAINST DOLLAR The rupee strengthened against the dollar at 104.5/104.7 in the inter-bank market on Friday compared to Thursday’s close of 104.7/104.9, Kamal Hayder, Research Analyst-PAGE said. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened from around Rs98 to a dollar to above Rs103 in the wake of political impasse over alleged election rigging. Earlier, the rupee remained glued to the Rs98 level for months, recovering from the historic low of Rs110.…
NEW BANK NOTE OF DENOMINATED OF RS200 India’s supreme banking authority, the Reserve Bank of India (RBI), has cleared a proposal to introduce new currency notes of Rs 200 denomination. The RBI board took the decision at the RBI board meeting in March, two people aware of the development told the paper. “The process of printing the new Rs 200 notes is likely to begin after June, once the government officially approves this new denomination,” Livemint.com reported quoting sources. Notably, last month RBI also started field trials of plastic notes of Rs 10 as plastic notes are expected to last…
UBL INAUGURATES STATE-OF-THE-ART CONTACT CENTER UBL, Pakistan’s Best Bank 2016, inaugurated its state-of-the-art Contact Center in Islamabad recently. Located in G6, Islamabad, this contact center is UBL’s third and offers multiple banking service options to the customers of the Bank. With a capacity of 130 seats, the center offers Inbound, Telesales, Callback Mailroom and Social Media Services. Mr. Wajahat Husain, President & CEO UBL inaugurated the Contact Center. He was accompanied by Ms. Sima Kamil, Deputy CEO UBL and other senior executives of the Bank. The visiting group was given a detailed overview on the Contact Center’s services and how…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads2] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 Rs/Month Dec/16 30326 Living Wage Individual 16967 Rs/Month Dec/16 16909 Wages High Skilled 43600 Rs/Month Jun/16 51100 MONEY Interest Rate 5.75 % Mar/17 5.75 Interbank Rate 5.99 % Feb/17 5.9…
[dropcap]W[/dropcap]ith the tanker market inching higher as of late, it’s worth taking a closer look at the future trends which could shape demand and determine ship owners’ decisions moving forward, as in the medium-term, the oil markets could be headed for shifts of colossal proportions. In its latest weekly report, shipbroker Gibson noted that “in the most recent International Energy Agency (IEA) medium-term outlook, the agency has forecast global oil demand will rise from 96.6 million b/d in 2016 to 103.8 million b/d by 2022 and that this demand growth will mainly come from non-OECD counties. Forecast oil demand growth…
[dropcap]T[/dropcap]his article is from the “International Economics Campaigning” series of The Conversation’s partnership with France’s Research Centre in International Economics (CEPII), a CEPII-La Tribune-The Conversation-Xerfi-Canal partnership. Andrea Goldstein, adjunct professor at the Catholic University of Milan, and Françoise Lemoine, advisor at CEPII, are specialists in the Chinese economy. They answer questions from Isabelle Bensidoun and JézabelCouppey-Soubeyran, CEPII economists. Isabelle Bensidoun, JézabelCouppey-Soubeyran: China is now the world’s second largest international investor, after the United States. How has its investment changed in recent years? Andrea Goldstein, Françoise Lemoine: In 2016, Chinese companies’ foreign investment (FDI) reached a new record: nearly US$200 billion,…
[dropcap]M[/dropcap]arket indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 10-Mar Friday 17-Mar Friday 24-Mar Friday 31-Mar Friday 7-Apr Friday 14-Apr DOLLAR Buying 106.35 106.55 106.6 106.45 106.2 106.15 Selling 106.65 106.85 106.9 106.75 106.5 106.45 POUND Buying 128.75 131 132 131.25 131.5 132 Selling 130.5 132.75 133.75 133 133.25 133.75 EURO Buying…
GBP/USD WEEKLY OVERVIEW Pound Showed Its Strength against The Dollar On Monday Whereas On Wednesday Pound Rose Against the Dollar as Britain’s Wage Growth Data Came with Very Positive and Unexpected Results. On The Other Hand Unemployment Rate Were At 4.7 % Almost Up To 12% Year Low. Moreover Due To Fast Export Growth In Recent Years As Well As Strong Sales Growth In Service Sector British Pound Showed Its Strength. Hence Pound hit $ 1.2521 its Highest in Nine Days. TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD) TIME S3 S2 S1 MAGNET POINT R1 R2 R3 WEEKLY 1.2068 1.2277…
MARKET REVIEW The Index continued its downward trend during the week. After starting on a positive note the index lost its steam on political noise. Index closed the week at 47,577pts, down by 0.7%WoW. FIPI registered net outflow of US$2.8mn. Average volume traded increased by 9.7%WoW while average value traded increased by 8.9%WoW. During the week, data released by Pakistan Automobile Manufacturers Association (PAMA) depicted 17%YoY growth in sales volume during Mar’17. PSMC was the outperformer of the month with sales increasing by 19%YoYand Wagon R remaining the prime contributor to growth. Additionally, PM approved ending moratorium on fresh gas…
KSE-100 INDEX REMAINS RANGE-BOUND; INVESTORS WAITING FOR PANAMAGATE VERDICT SUMMARY The market almost got into hibernation mode since March 31 as it remained range-bound from 47,949 on March 31 till today closing at 47,577. It seems that investors are waiting for long awaited Panamagate verdict so that political uncertainty is cleared. There were some positive triggers; crude oil bounced back above $50; Government lifted the ban imposed on new gas connections to industries; CDC and NCCPL sent out notices where they have invited brokers and bankers to discuss the potential changes to the in house financing model and lastly there…
PAKISTAN: GOOGLE SAYS IT WOULD COST TOO MUCH TO GATHER WAGE GAP DATA: The department of labor will keep bothering Google for the salary records because the tech titan keeps joining the handover. These record can be proved at once and Mountain View truly pays women a lot less then it does mean. The labor department is blaming the big G of “systemic compensation disparities against women pretty much across the entire workforce” and it sues the company for its salary information. RESEARCHERS FIND A MORE EFFECTIVE WAY TO TEST SELF-DRIVING CARS: It is very difficult to test self-driving cars. Even when you drive the…
GCC TO KEEP PACE WITH FED’S TIGHTENING POLICY The gcc’s monetary policy of keeping up with the Joneses is firmly in place. It is steadily tightening, in line with the Federal Reserve’s latest rate increases. On March 16, the bloc’s central banks hiked interest rates by 25 basis points right after the Fed did. Although the GCC currencies’ peg to the dollar has been a long-term priority, this time, there are still pockets of weakness in global crude oil prices. This means that growth in the GCC may not keep up with monetary tightening. Moreover, higher interest rates have a…
TENDER FOR NEW POLICE UNIFORM GIVEN IN ACCORDANCE WITH PPRA RULES: LHC SAID The Lahore High Court was informed on Friday that tender for preparing new uniform of Punjab police was given in accordance with the Public Procurement Regulatory Authority (PPRA) rules. It was stated in a reply filed by a provincial law officer on behalf of the Punjab government before LHC Chief Justice Syed Mansoor Ali Shah who was hearing a petition seeking directions to set aside the tendering process for new uniform. The government further informed the court that decision of changing uniform was taken in accordance with…
DAILY REVISION OF PETROL PRICES NEW DELHI: State-run fuel retailers will revise petrol and diesel prices daily in five cities – Chandigarh, Udaipur, Vizag, Puducherry and Jamshedpur – from May 1 as a pilot run before a countrywide rollout to counter undercutting by private retailers. Till the system is in place throughout the country, public sector retailers will continue with the practice of tweaking prices on the 15th and last day of each month in all other places. Daily revision will take the sting out of price hikes as they would be in small doses – sometimes could even go…
TPL MAPS ROLL OUT PAKISTAN’S FIRST STREET VISION MAP Users will now be able to virtually explore the streets of Karachi, Lahore and Islamabad on their smartphone from anywhere they want. TPL Maps has launched the Street Vision feature for Karachi, Lahore and Islamabad. The attribute will allow users to virtually view the streets of three major cities through their smartphones. This is the first of its kind feature being launched in Pakistan which is a technology breakthrough by any mapping company in the country. The street vision comes packed with features which include 60,000+ images and covers a street…
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 Rs/Month Dec/16 30326 Living Wage Individual 16967 Rs/Month Dec/16 16909 Wages High Skilled 43600 Rs/Month Jun/16 51100 MONEY Interest Rate 5.75 % Mar/17 5.75 Interbank Rate 5.99 % Feb/17 5.9…
[dropcap]T[/dropcap]he combination of few available ships offered for demolition and higher prices has led to a somewhat stalemate in the market, as ship owners were holding out in search for even higher prices, which didn’t come. In its latest weekly report, GMS, the world’s leading cash buyer said that “the first signs of a pushback on the (seemingly) unending firming levels started to emerge this week as a number of owners unsuccessfully held out for the coveted USD 400/LDT (or higher) in order to finalize various sales. Unfortunately, all efforts failed to materialize. Pakistan appears to be driving the market…
Myths get in the way of our ability to restore degraded soils that can feed the world using fewer chemicals One of the biggest modern myths about agriculture is that organic farming is inherently sustainable. It can be, but it isn’t necessarily. After all, soil erosion from chemical-free tilled fields undermined the Roman Empire and other ancient societies around the world. Other agricultural myths hinder recognizing the potential to restore degraded soils to feed the world using fewer agrochemicals. When I embarked on a six-month trip to visit farms around the world to research my forthcoming book, “Growing a Revolution:…
Hamdard, means “Co Sharer in Suffering”, was started in Delhi in 1906. Shaheed Hakim Mohammed Said, established Hamdard Pakistan in 1948. Since then, Hamdard is a household name in Pakistan and millions of people of last three generations have had their health improved, their pain relieved, and many problems alleviated by this institution. Hamdard’s central structure is based in Karachi, Pakistan, where all the herbal products are manufactured in modern plants. Besides, Hamdard has well equipped factories in other big cities of Pakistan too. Hamdard has almost six hundred (450) Herbal Products in the wide category of HERBAL DIETARY SUPPLEMENTS,…
PAGE brief talks with Mr Rashid Hashmi – CEO, Muhammad Hashim Tajir Surma over their remarkable products serving human beings worldwide [box type=”shadow” align=”” class=”” width=””]Profile Mr. Muhammad Rashid Hashmi, belongs to the respectable and closely knitted legendary Hashmi Family. He is a renowned business executive in the economic arena of Pakistan. He got his secondary education from the Happy Home School, Karachi and graduated from National College, Karachi. He joined the Hamdard Tibb College, Karachi to fulfill his ambitions in Tibb, which is an Eastern Medicine System of Herbal remedies. Many government entities have acknowledged Mr. Rashid Hashmi and…
[box type=”shadow” align=”” class=”” width=””]Profile Nasib Ahmed Saifi, Chief Executive Officer, Anis Associates (Pvt) Ltd (a high quality Halal meat and meat products processors & exporters) Chairman: Saifi Group of Companies (UAE, Pakistan, Thailand & K.S.A.) Chairman: Standing Committee on Halal Food Import & Export Ex Member: Executive Committee Member, Lahore Chamber of Commerce & Industry Patron: The Lahore General Hospital – Lahore Chairman: All Pakistan Meat Exporters & Processors Association Chairman of All Pakistan Meat Exporters and Processors Association (APMEPA), Nasib Ahmad Saifi has urged the government to provide the export sector of Halal meat and products a level-playing…
[dropcap]M[/dropcap]arket indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Saturday 4-Mar Friday 10-Mar Friday 17-Mar Friday 24-Mar Friday 31-Mar Friday 7-Apr DOLLAR Buying 107.2 106.35 106.55 106.6 106.45 106.2 Selling 107.5 106.65 106.85 106.9 106.75 106.5 POUND Buying 131 128.75 131 132 131.25 131.5 Selling 132.75 130.5 132.75 133.75 133 133.25 EURO Buying…
GBP/USD WEEKLY OVERVIEW At last the formal process of Brexit has been triggered through which Britain will exit the European Union. Since last June 2016 Britain’s vote to exit European Union, Pound witnessed fall of 20% against dollar whereas on Monday after the outcome of UK poor manufacturing data, Pound skidded more and fell back below $ 1.25. Britain’s exit from European Union will definitely multiply the current account deficit which is equivalent to 7% of its GDP. In Europe it is expected that inflation may rose to 3%. The Pound bounced on Wednesday on the outcome of positive services…
MARKET REVIEW The Index continued its downward trend in the week as building political noise and yet another regulatory action taken by SECPagainst a broker kept the sentiments negative. Index closed the week at 47,889pts, down by 0.7%WoW. FIPI registered net outflow of US$9.3mn. Average volume traded decreased by 37%WoW while average value traded decreased by 27%WoW. During the week,data released by All Pakistan Cement Manufacturer Association (APCMA) depicted 23%YoY growth in total local dispatches in Mar’17. Impressive growth was primarily on account of deferred demand due to elongated winters. Additionally, SSGC’s board announced its investment plan for LNG-III project…
EQUITIES FALL IN THIN TRADE AMID POLITICAL UNCERTAINTY SUMMARY The market continued on a downward trend as investors maintained a wait-and-see approach ahead of the much awaited Panama case verdict during the week. There was a drastic cut in volume of trading as the average of the week came down to 155.74 million from 248.64 million last week, a cut of 37% WoW. During the week, the major fall recorded in banks and fertilizer, which came down -2.7%. Cement had a rise of 0.4% and E&P up 2.5%. Notable feature was foreign investors registering a net buying of $9.3 million…
PAKISTAN: IPHONE 8 RELEASE DATE, SPECS, RUMOURS, AND PRICE: Apple has major iPhone redesign planned for 2017, the new iPhone is coming with glass body and edge-to-edge OLED display which include an integrated Touch ID fingerprint sensor and front facing the camera. The new iPhone may be sold alongside upgraded 4.7 and 5.5 inch iPhones. Let’s go through the iPhone 8 release date in Pakistan, specifications, latest news and iPhone 8 price in Pakistan. WITH UBER FREIGHT, UBER IS BRINGING THE RIDE HAILING MODEL TO TRUCKING: In its Quest to overtake the transportation business, Uber is dreaming about the day when…
PROTECTIONISM TO HIT GLOBAL ECONOMY-WARNS UAE Economic openness and free markets have been an incentive for the growth of economies, says UAE Economy Minister Protectionist policies would only undermine the growth of investments and negatively impact the prosperity of the global economy, Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said. Inaugurating the seventh edition of the Annual Investment Meeting (AIM), the world’s largest annual gathering on foreign direct investment, the minister said economic openness and free markets have been an incentive for the growth of economies. “Trade protectionism policies have always served short-term objectives, but their long-term implications…
CONSUMERS TO FACE ENERGY OUTAGES IN RAMAZAN Pakistan Muslim League-Nawaz (PML-N)’s much-trumpeted election agenda was to eliminate energy shortages from the country. However, four years have gone since the current government came to power, the country is still facing a shortfall of 5,000 megawatts, leading to average power outages for 10 hours a day. Speaking in a meeting of the National Assembly Standing Committee on Water and Power, chaired by Arshad Khan Leghari, on Friday, Additional Secretary Ministry of Water and Power Omer Rasul revealed that at present the gap between power supply and demand stood at 5,000MW and it…
INDIAN FERTILIZER COMPANIES CONCERN OVER 20 PERCENT CUT OF SUBSIDIES MUMBAI: Indian fertilizer companies will soon raise potash prices after the government last week cut subsidies by 20 per cent for the current financial year, officials said. Higher potash prices charged to millions of Indian farmers will hurt demand in one of the world’s largest importers of the fertilizer, raising concerns for big global suppliers. To offset the subsidy cut, Indian companies also plan to bargain for lower prices in their annual import contracts with international suppliers like Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab Potash and…
YAMAHA MOTOR PAKISTAN LAUNCHES NEW YB125Z Yamaha Motor Pakistan announced the launch of their new model YB125Z at its launch ceremony in Lahore today. Yamaha Motor Pakistan re-started its motorcycle business in Pakistan 2 years ago with the introduction of YBR125 & YBR125G. After successful acceptance of YBR series especially among youth, Yamaha Motor always feels to introduce a model which would cater every common motorcycle users in Pakistan and today’s introduction of YB125Z is the perfect answer to that. The model itself is equipped with features like new longer and wider size seat , engine balancer to reduce vibration,…
[dropcap]I[/dropcap]t is one of the best known lagging indicators. The consumer price index expresses the current prices of a basket of goods and services in terms of the prices during the same period in a previous year, to show effect of inflation on purchasing power. [ads1] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI Core Inflation SPI** WPI General Food Non-food NFNE* Trimmed Jan 16 0.2 -0.6 0.8 0.9 0.6 -0.7 -0.5 Feb 16 -0.3 -0.7 0.0 0.2 0.1 -0.5 -0.6 Mar 16 0.2 0.5 -0.1 0.2 0.2 -0.2 -0.4 Apr 16 1.6 2.4…
[dropcap]T[/dropcap]he balance of trade compares the value of a country’s exports of goods and services against its imports. When exports are greater than imports, that’s a trade surplus. Most nations view that as a favorable trade balance. A country that imports more goods and services than it exports has a trade deficit. [ads1] BALANCE OF TRADE (Million US $) PERIOD EXPORTS (VALUE) IMPORTS (VALUE) BALANCE OF TRADE Jul-16 P 1,495 3,093 -1,598 Aug-16 P 1,840 3,807 -1,967 Sep-16 P 1,672 3,209 -1,537 Oct-16 P 1,826 3,340 -1,514 Nov-16 P 1,841 3,785 -1,944 Dec-16 P 1,860 4,109 -2,249 Jan-17 R…
[dropcap]K[/dropcap]ibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.72 6.22 2 – Week 5.74 6.24 1 – Month 5.79 6.29 3 – Month 5.87 6.12 6 – Month 5.90 6.15 9 – Month 5.93 6.43 1 – Year 5.95 6.45 2 – Year 6.06 6.56 3- Year 6.18 6.68
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 Rs/Month Dec/16 30326 Living Wage Individual 16967 Rs/Month Dec/16 16909 Wages High Skilled 43600 Rs/Month Jun/16 51100 MONEY Interest Rate 5.75 % Mar/17 5.75 Interbank Rate 5.9 % Jan/17 5.98…
[dropcap]D[/dropcap]emographic is the study of a population based on factors such as age, race and sex, among others. Governments, corporations and non-government organizations use demographics to learn more about a population’s characteristics for many purposes, including policy development and economic market research. [ads1] DEMOGRAPHIC INDICATORS OF PAKISTAN DETAILS 2015 2016 Total Population (Million) 191.71 195.4 Urban Population (Million) 75.19 77.93 Rural Population (Million) 116.52 117.48 Total Fertility Rate (TFR) 3.2 3.1 Crude Birth Rate (Per thousand) 26.1 25.6 Crude Death Rate (Per thousand) 6.80 6.70 Population Growth Rate (Percent) 1.92 1.89 LIFE EXPECTANCY (YEAR) – Female 67.3 67.7 -…
[dropcap]I[/dropcap]nflation is a sustained increase in the general level of prices of goods and services in an economy. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money. [ads1] INFLATION IN PAKISTAN (Base 2007-08) INDEX AVERAGE JULY – APRIL % CHANGES 2016-17 2015-16 2014-15 CPI 4.09 2.79 4.81 SPI 1.51 1.44 1.86 WPI 4.00 -1.30 0.03
[dropcap]A[/dropcap]n interest rate is the cost of borrowing money, or conversely, the income earned from lending money. Interest rates are expressed as percentage of the principal per period. “Reduced interest rates encourage people to spend money on home improvements” [ads1] INTEREST RATES DATE (%) 26-Jan-15 8.5 24-Mar-15 8.0 25-May-15 6.5 14-Sep-15 6 23-May-16 till date 5.75
[dropcap]A[/dropcap]sian Development Bank (ADB) provided a $200 million loan to strengthen Pakistan’s disaster risk management including support to the National Disaster Risk Management Fund (NDRMF) to reduce the country’s vulnerability to disasters from natural hazards, and climate variability and change. As part of the support, a $1 million technical assistance grant has been approved for Capacity Building of Disaster Risk Management Institutions. ADB will also administer a $3.3 million grant provided by the Government of Australia. “Pakistan is increasingly exposed and vulnerable to various natural hazards and climate change which pose a significant risk to the fiscal stability of the…
[dropcap]US[/dropcap] chipmaker Intel is taking a big bet on driverless cars with a $15.3 billion (£12.5 billion) takeover of specialist Mobileye. Intel will pay $63.54 a share in cash for the Israeli company, which develops “autonomous driving” systems. Mobileye and Intel are already working together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year. Intel expects the driverless market to be worth as much as $70 billion by 2030. Jerusalem-based Mobileye has contracts with 27 car makers. It also controls about two thirds of the market for software that…
OVERVIEW [dropcap]F[/dropcap]ormerly known as Atlas Autos founded with the incorporation of an investment company called Shirazi investments back in 1962 with an initial capital of Rs500,000. Later that year, a technical collaboration agreement was signed with Honda Motors Company Limited (HMC) for the production and sales of motorcycles in Pakistan. The company is now recognized as Atlas Honda Limited owned by Altas Group and Honda Motor Company. It is a Pakistani manufacturer and is the largest motorcycle maker and a market leader in Pakistan. It formerly has manufacturing facilities only in Karachi and in 1979, another motorcycle manufacturing plant at…
[dropcap]M[/dropcap]arket indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 24-Feb Saturday 4-Mar Friday 10-Mar Friday 17-Mar Friday 24-Mar Friday 31-Mar DOLLAR Buying 107.3 107.2 106.35 106.55 106.6 106.45 Selling 107.6 107.5 106.65 106.85 106.9 106.75 POUND Buying 134 131 128.75 131 132 131.25 Selling 135.75 132.75 130.5 132.75 133.75 133 EURO Buying…
GBP/USD WEEKLY OVERVIEW Despite British Prime Minister Theresa May formal request to quit European Union, this week pound gained up to 1.0% against dollar which is eight week high of $1.2615 on Monday. On the other hand several major banks have predicted fall of pound below $1.20 due to political uncertainty created during process of Brexit and forthcoming Scottish Independence referendum. Meanwhile dollar slide down 0.65% its lowest since November 2016 due to Trump’s defeat in Congress on key issue of health care reform bill, first major failure in Congress where his Republican party is in majority it’s really a…
MARKET REVIEW Bears continued to dominate the index during the week as the index shed 1.7%WoW to close in at 48,156pts level. FIPI registered net outflow of USD19mn. Average volume traded decreased by 3.5%WoW while average value traded increased by 8.6% WoW. Major developments during the week included government signing accords with World Bank worth USD433mn regarding the financing of multiple development projects. Also, WAPDA announced that it secured PKR144bn financing from the local banks for Dasu Hydropower Dam, which is expected to come online during CY20-21 and is expected to add 4,320MW to the national grid. Also, government and…
STOCKS MAINTAINS GLOOMY OUTLOOK AHEAD OF PANAMA CASE VERDICT SUMMARY It seems that delay in announcing the decision of Panamagate case and subsequent development on political front by the two big political parties creating more suspense and anxiety among the stock investors and the market has failed to find the direction. KSE-100 Index remained bearish during the week and shed 816 points during the week to close on Friday at 48,155.93. The average volume too declined by3.5% to an average of 248.64 million shares. The market capital too declined to Rs9.594 trillion from Rs647 trillion. The stock market fell on…
PAKISTAN FIA ARRESTS THREE IN SOCIAL MEDIA BLASPHEMY CASE: The Federal Investigation Agency (FIA) on Friday arrested three individuals in connection with a case pertaining to the publishing of blasphemous content on social media being heard by the Islamabad High Court (IHC). [divider style=”normal” top=”20″ bottom=”20″] ZTE, A NET LOSS OF CNY2.36 BILLION ($ 343 MILLION) IN 2016: ZTE, soon after admitting violating US trade sanctions in a Texas court, confirmed it slipped to a net loss of CNY2.36 billion ($343 million) in 2016 related to fines due over the issue [divider style=”normal” top=”20″ bottom=”20″] PIA CASHES IN ON US ELECTRONICS…
39,000 TOYOTA CARS IN UAE MAY HAVE AIRBAG TROUBLE Al Futtaim Motors, the exclusive distributor of Toyota in the UAE has said it has started a ‘special service campaign’ on 39,294 Toyota vehicles in the UAE, including Corolla (2010 to 2013 models), Yaris (2012 models) and Alphard (2011 and 2013 models). The statement comes after Toyota Motor Corp announced it was recalling a total of about 2.9 million vehicles in Japan, China, Europe and other regions, including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbags. “The involved vehicles are equipped with Takata-produced front driver and/or…
WEEK-ON-WEEK: SPI FALL 0.19PC The Sensitive Price Indicator (SPI) for the week ended March 30, 2017 registered a decrease of 0.19% for the combined income group, going down from 226.02 points in the previous week to 225.60 in the week under review, Kamal Hayder, Research Analyst-PAGE said. Compared to the corresponding week of the previous year, the SPI for the combined income group rose 4.12%. The SPI for the lowest income group also decreased 0.24% compared to the previous week. The index for the group stood at 214.96 points against 215.47 in the previous week. During the week, average prices…
REVENUE FALLS DUE TO TARIFF WAR AMONG TELECOM OPERATORS NEW DELHI: The government has taken cognisance of the fall in revenue due to the tariff war among telecom operators triggered by free promotional offers doled out by a new service provider, telecom minister Manoj Sinha said on Wednesday. Licence fees collected by the government fell to Rs 3,450.1 crore in the quarter ended December 31 from Rs 3,584.04 crore in July-September and Rs 3,975.7 crore in April-June, he told the Rajya Sabha in response to a question on the health of the sector. Spectrum usage charges dropped to Rs 1,553.2…
SHAREHOLDERS APPROVE DIVIDEND OF RS 7.50 PER SHARE 18% GROWTH OBSERVED IN PROFIT The 68th Annual General Meeting of National Bank of Pakistan was held at a local hotel in Karachi on Thursday, March 30th, 2017. The meeting was well attended by the shareholders. President of the Bank, Mr. Saeed Ahmad chaired the meeting. The shareholders approved financial statements and cash dividend of Rs.7.50/- per share as recommended by the Board of Directors of the bank. This translates into 78% dividend payout of the bank’s distributable profit for the year 2016 (after statutory reserve allocation). The shareholders were informed that…
[dropcap]I[/dropcap]t is one of the best known lagging indicators. The consumer price index expresses the current prices of a basket of goods and services in terms of the prices during the same period in a previous year, to show effect of inflation on purchasing power. [ads1] INFLATION RATES MONTH ON MONTH BASIS (%) (BASE 2007 – 2008) Period CPI Core Inflation SPI** WPI General Food Non-food NFNE* Trimmed Jan 16 0.2 -0.6 0.8 0.9 0.6 -0.7 -0.5 Feb 16 -0.3 -0.7 0.0 0.2 0.1 -0.5 -0.6 Mar 16 0.2 0.5 -0.1 0.2 0.2 -0.2 -0.4 Apr 16 1.6 2.4…
[dropcap]T[/dropcap]he balance of trade compares the value of a country’s exports of goods and services against its imports. When exports are greater than imports, that’s a trade surplus. Most nations view that as a favorable trade balance. A country that imports more goods and services than it exports has a trade deficit. [ads1] BALANCE OF TRADE (Million US $) PERIOD EXPORTS (VALUE) IMPORTS (VALUE) BALANCE OF TRADE Jul-16 P 1,495 3,093 -1,598 Aug-16 P 1,840 3,807 -1,967 Sep-16 P 1,672 3,209 -1,537 Oct-16 P 1,826 3,340 -1,514 Nov-16 P 1,841 3,785 -1,944 Dec-16 P 1,860 4,109 -2,249 Jan-17 R…
[dropcap]K[/dropcap]ibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. [ads1] KIBOR RATES IN PAKISTAN TENOR BID OFFER 1 – Week 5.72 6.22 2 – Week 5.74 6.24 1 – Month 5.79 6.29 3 – Month 5.87 6.12 6 – Month 5.90 6.15 9 – Month 5.93 6.43 1 – Year 5.95 6.45 2 – Year 6.06 6.56 3- Year 6.18 6.68
[dropcap]A[/dropcap]n economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. Economic indicators include various indices, earnings reports, and economic summaries. [ads1] PAKISTAN – ECONOMIC INDICATORS Overview Last Reference Previous LABOUR Unemployment Rate 5.9 % Dec/15 6 Employed Persons 57420 Thousand Dec/15 56520 Unemployed Persons 3620 Thousand Dec/15 3580 Population 194 Million Dec/16 190 Living Wage Family 30448 Rs/Month Dec/16 30326 Living Wage Individual 16967 Rs/Month Dec/16 16909 Wages High Skilled 43600 Rs/Month Jun/16 51100 MONEY Interest Rate 5.75 % Feb/17 5.75 Interbank Rate 5.9 % Jan/17 5.98…
[dropcap]D[/dropcap]emographic is the study of a population based on factors such as age, race and sex, among others. Governments, corporations and non-government organizations use demographics to learn more about a population’s characteristics for many purposes, including policy development and economic market research. [ads1] DEMOGRAPHIC INDICATORS OF PAKISTAN DETAILS 2015 2016 Total Population (Million) 191.71 195.4 Urban Population (Million) 75.19 77.93 Rural Population (Million) 116.52 117.48 Total Fertility Rate (TFR) 3.2 3.1 Crude Birth Rate (Per thousand) 26.1 25.6 Crude Death Rate (Per thousand) 6.80 6.70 Population Growth Rate (Percent) 1.92 1.89 LIFE EXPECTANCY (YEAR) – Female 67.3 67.7 -…
[dropcap]I[/dropcap]nflation is a sustained increase in the general level of prices of goods and services in an economy. When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money. [ads1] INFLATION IN PAKISTAN (Base 2007-08) INDEX AVERAGE JULY – APRIL % CHANGES 2016-17 2015-16 2014-15 CPI 4.09 2.79 4.81 SPI 1.51 1.44 1.86 WPI 4.00 -1.30 0.03
[dropcap]A[/dropcap]n interest rate is the cost of borrowing money, or conversely, the income earned from lending money. Interest rates are expressed as percentage of the principal per period. “Reduced interest rates encourage people to spend money on home improvements” [ads1] INTEREST RATES DATE (%) 26-Jan-15 8.5 24-Mar-15 8.0 25-May-15 6.5 14-Sep-15 6 23-May-16 till date 5.75
[dropcap]T[/dropcap]he Indus Waters Treaty, by dividing the rivers and excluding Afghanistan and China, remains a sub-optimal treaty and needs to be expanded to the whole basin, writes Ashok Swain Water scarcity is a serious and growing security challenge for South Asian countries. The twin pressures of population growth and climate change are further intensifying this problem. In this context, shared river systems, the major sources of fresh water in the region are often becoming flashpoints of tension. One of the most critical such river systems is the Indus. PARTITION OF A RIVER BASIN The Indus river basin covers an area…
[dropcap]Dr.[/dropcap] Mahbubul Haq was Pakistan’s 13th finance minister from the period of April 1985 till January 1988. He was a Cambridge, Yale and Harvard educated world-respected economist and joined the United Nations Developmental Program soon after his departure his post in Pakistan. During his tenure with the UNDP, Dr. Mahbub created and launched the Human Developmental Reports and from which emerged the HDI (Human Developmental Index). While GNP/GDP statistics measure national wealth and productivity, the HDI takes into account overall human development and besides income per head also includes amongst other measurements, life expectancy, schooling, employment and gender inclusivity. While…
[dropcap]M[/dropcap]arket indicators are a series of technical indicators used by traders to predict the direction of the major financial indexes. Most market indicators are created by analyzing the number of companies that have reached new highs relative to the number that created new lows, also known as market breadth. PAKISTAN MARKET INDICATORS EXCHANGE RATES CURRENCY ACTIVITY Friday 17-Feb Friday 24-Feb Saturday 4-Mar Friday 10-Mar Friday 17-Mar Friday 24-Mar DOLLAR Buying 107.35 107.3 107.2 106.35 106.55 106.6 Selling 107.65 107.6 107.5 106.65 106.85 106.9 POUND Buying 133.5 134 131 128.75 131 132 Selling 135.25 135.75 132.75 130.5 132.75 133.75 EURO Buying…
GBP/USD WEEKLY OVERVIEW The dollar dipped for the fourth day running against the basket of currencies used to measure its broader strength on Monday as reaction to a G20 summit dominated by the Trump administration’s protectionist bent extended last week’s sales. A vote on Republican healthcare as a litmus test of US President Donald Trump’s ability to legislate in Congress and deliver on tax and spending promises. Trump was set to make a final push in the House of Representatives to secure the votes to begin dismantling Obamacare, with signs that enough republicans might defect to jeopardize on of the…
MARKET REVIEW Index broke its losing streak despite political noise & low international oil price and closed the week at 48,971pts, up by 1.2%WoW. FIPI registered net inflow of US$3.5mn. Average volume traded increased by 38.9%WoW while average value traded decreased by 7.6% WoW. During the week Nepra reduced average electricity tariff for K-Electric by PKR3.50/unit for the next seven years while also doing away with its service’s monopoly. However, it also revised K-Electric’s benchmark T&D losses curve. KEL’s management termed the new multiyear tariff as detrimental to long-term investment and is expected to file a review petition. Additionally, groundbreaking…